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Higher low, lower high system

  • #481
  • Sep 1, 2009 10:38pm Sep 1, 2009 10:38pm
Quoting Vantage
Whilst monthly still has a day to run if we close lower on Monday there could be more downside. The area where we turned is clear enough. Weekly has closed on some previous lows, should we go lower we could try for W's previous lows of around 1.60. Could be some resistence around 6150 Wed/Thur lows first. Daily has a nice shooting star in downtrend. These would be the first targets.
OK 6150 did get hit eventually bounced from 6100, round number and W S1 also there.
  • #482
  • Sep 1, 2009 10:44pm Sep 1, 2009 10:44pm
Yesterdays main trades.

1st trade. We don't take breakout trades but had buy signal at 6300, this was a hl so we waited for price to settle above 6300.

Trade 2, had a sell signal from 6375, this is not a lh but it gave us a heads up and we had a nice lh 10 mins later. All out at 6250, did not even have computer on for fall to 6150.

Had some other ej trades which didn't really go anywhere much.
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  • #483
  • Sep 1, 2009 10:46pm Sep 1, 2009 10:46pm
Oh and we are trying to stay in trades until close on other side of lwma, unless like the sell where its moved 100+ pips and hits major target then we are happy to exit.
  • #484
  • Sep 2, 2009 5:11am Sep 2, 2009 5:11am
Hi Vantage,

This HL-LH is a great trading philosophy, IMHO. First of all lemme just say that I was always lurking in FF trying to find that one indie that will tell me how to trade, and LOL been here a year but my stats sucks.
I didn't pay attention to ur thread at first though, no fancy indicators, hehehe for im such a indie lover.
But then I see it!!! That pattern HL - LH is THE INDICATOR im looking for hehehehe . Thx for pointing it up for me, took me a year to really see it though.
The patterns do exist in all timeframes, thats what so great about it. I've been doing manual back for the past week and start trading it since last week, demo of course, but I've never felt so optimistic hehehehe
Currently Im using this pattern in M15 and D1. And oh i tend to wait for an obvious outside candle.
Please let me show some entries I took based this pattern.
Attached Image(s) (click to enlarge)
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  • #485
  • Sep 2, 2009 10:51am Sep 2, 2009 10:51am
Quoting chiqunk
Hi Vantage,

This HL-LH is a great trading philosophy, IMHO. First of all lemme just say that I was always lurking in FF trying to find that one indie that will tell me how to trade, and LOL been here a year but my stats sucks.
I didn't pay attention to ur thread at first though, no fancy indicators, hehehe for im such a indie lover.
But then I see it!!! That pattern HL - LH is THE INDICATOR im looking for hehehehe . Thx for pointing it up for me, took me a year to really see it though.
The patterns do exist in all timeframes, thats...
Hi chiqunk
As you've seen I've been there and back with indi's and best results have been trading naked, still like divergence though but so be it, indi's they're all gone.

HL/LH's from important levels are great trades, I don't see any pivots, round numbers on your charts?

If you haven't picked up already check out the vsa thread, thats helping a good deal, even with my challenges on the subject. Also the psych levels pivots + trendlines thread.

On your top chart. The left trade fine. On the right side I would have taken the trade 3/4 candles to the right of the candle shown. Thats where the test to go lower failed.

On the bottom chart looking at those high vol shooting stars I'd prob have looked to enter as soon as the lows of those candles were broken.
  • #486
  • Sep 2, 2009 10:58am Sep 2, 2009 10:58am
Had a couple of trades today.

Lots of upper wicks on 1 hr so we were looking for fall. Had a small trade the lower high sell falling from 6175 shown by the arrow (roughly in middle of 5 min chart), sold 6164.

Mrs V spotted the resistance area as shown on 1 hr chart and we liked the lh reject after the push up to 6190 failed. Entered on the break of 6175 after the shooting star. Nice one Mrs V.

She wanted to buy the bounce from 6112 y's low but as we had some commitments a short while later we left it. Pity that was a good call and some great hl's followed.
Attached Image(s) (click to enlarge)
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  • #487
  • Sep 2, 2009 7:30pm Sep 2, 2009 7:30pm
Hi Vantage,

Thx for the comments. The lower chart, the high vol shooting star is due to news. Im a bit alerted when it's the news, try to see the water clearer first before jumping after the news.
About pivots, yes I use them before when I used FJ's the force 5 min, but then i get lost between all those lines, not to mention trendlines LOL . Which pivots are important you think, daily? Weekly? monthly?? I'll try to watch out for round numbers.
This vsa thread, could you please post a link??
Im bit struggling with the exit, any suggestion?

Thx
ChiQ
  • #488
  • Edited 8:31am Sep 3, 2009 8:21am | Edited 8:31am
Quoting chiqunk
Hi Vantage,

Thx for the comments. The lower chart, the high vol shooting star is due to news. Im a bit alerted when it's the news, try to see the water clearer first before jumping after the news.
About pivots, yes I use them before when I used FJ's the force 5 min, but then i get lost between all those lines, not to mention trendlines LOL . Which pivots are important you think, daily? Weekly? monthly?? I'll try to watch out for round numbers.
This vsa thread, could you please post a link??
Im bit struggling with the exit, any suggestion?

Thx
ChiQ...
No prob your charts were so small couldn't make out time, I'd also be careful pre news.

I use all 3 pivots but I think they become more important at the end of a run as a target. From this gu chart you can see the various areas pa stops has a breather and carries on.

Wheres it going to stop, who knows I don't but above 1.63 theres how many areas where it stops retraces and gives a good chance to re-enter. Of course not all days are as good as this but I'm sure you get the drift.

Take these areas together with obviouys supp/res areas from higher charts and you'll have good target areas to exit, the high from 1 Sep 6375 a good example for todays pa. After that price had 1 more go failing at a 62% fib ext of y's range, W M3 and D R2.

Ultimately where you exit is up to you!!
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  • #489
  • Sep 3, 2009 8:28am Sep 3, 2009 8:28am
Quoting chiqunk
Hi Vantage,

This vsa thread, could you please post a link??
Im bit struggling with the exit, any suggestion?

Thx
ChiQ
VSA link http://www.forexfactory.com/showthread.php?t=157629

On exits, ask someone else I have early exits down to a fine art form.

Have a look at the avr range of the currency you're dealing with, have a look where you got in on the move and look for reasonable places to exit.

If gu range is 150 and you got in 50 pips in move then prob 100 max, anything close to that and you'd be good to go. I'll try and take my own good advice!!

GU turned y at W S1 and ran up 300 pips to turn just above W M3 which was at a fib ext, co-incidence??
  • #490
  • Sep 3, 2009 8:49am Sep 3, 2009 8:49am
Look at the pivots that are hit and there are 20-30 pip retracements. More than enough for a trailing stop, parabolic etc to get hit.

So If your trade may be hit with up to 30 pips and then put you out why not risk getting out at the target price watch the 20 pip pull back pull back and hl/lh move and be prepared to get in again with a 15 pip stop??

You've locked in the full profit, and your re-entry stop loss is less than the average pull back. Every time you lock in 30 odd pips profit its less and less stress to take the 15 pip knock on re-entry.

Your other option is to move stop to just under/above the last low/high in a move and keep on doing that until your realistic range is hit then exit and call it a day.

Not even oak trees grow to the sky so how far will GU run, if you can get anything above 75 pips in any day trade move thats great.
  • #491
  • Sep 3, 2009 9:21am Sep 3, 2009 9:21am
Quoting Vantage
VSA link http://www.forexfactory.com/showthread.php?t=157629

On exits, ask someone else I have early exits down to a fine art form.

Have a look at the avr range of the currency you're dealing with, have a look where you got in on the move and look for reasonable places to exit.

If gu range is 150 and you got in 50 pips in move then prob 100 max, anything close to that and you'd be good to go. I'll try and take my own good advice!!

GU turned y at W S1 and ran up 300 pips to turn just above W M3 which was at a fib ext, co-incidence??...
Thx for the link, something to read for the weekend
On exits, yes I also take it very short often, only to watch it moving on after I close the trades. Normally I close the trades when the candles are suspicious, yes it's the gut, and yes it's not satisfying.
I'll try to see the pivots area as target.

Nice ride today huh, one way up

Keep the chart coming, V.
  • #492
  • Edited 7:23pm Sep 3, 2009 9:23am | Edited 7:23pm
Does anyone have a indie that paints pivot, S/R points for previous day?? That would be really helpful on doing back test.

Edit: Never mind, found it
  • #493
  • Sep 3, 2009 7:35pm Sep 3, 2009 7:35pm
Hi Vantage,

Let me show you some trades I took on Tuesday Sep 2nd 09, on EJ. 3 trades, 2losses.
#1 - A outside bearish bar with higher vol, i took the short, but it keeps going up, cut loss on -32 when I saw it made a higher low. But LOL it came back all the way down.
#2 - Again, outside bearish bar, failed to make a higher high so I took the short, this time a winner.
#3 - Another short, I thought it failed to create higher high and will continue all the way down, had to cut loss to -34.
Chart one shows naked chart with pivots and round number at 131.00. Chart 2 shows added bollinger band(20,3), now I can see that trade#1 is already far below SMA20 and maybe thats why i shouldnt take it. It explains trade#2 as well, it bounced off sma20. But trade#3 I dont get it, it bounced off sma20 but still rally up.
What do you think Vantage? I hope the chart is clear
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  • #494
  • Sep 4, 2009 12:16am Sep 4, 2009 12:16am
Quoting chiqunk
Hi Vantage,

Let me show you some trades I took on Tuesday Sep 2nd 09, on EJ. 3 trades, 2losses.
#1 - A outside bearish bar with higher vol, i took the short, but it keeps going up, cut loss on -32 when I saw it made a higher low. But LOL it came back all the way down.
#2 - Again, outside bearish bar, failed to make a higher high so I took the short, this time a winner.
#3 - Another short, I thought it failed to create higher high and will continue all the way down, had to cut loss to -34.
Chart one shows naked chart with pivots and round number...
You're using a 15 min chart? I'd stop that right away!!

Looking at what I think is same time on a 5 min chart. Rules lower high, 5 min close price MUST move on 1 pip for trade.

A - is lh where price goes on 1 pip and works.
B - is lh close price moves down below 131.73, a BE trade if you are lucky, perhaps a small loss. The 2 small green shooting stars were signs that fall did not want to follow through
C - to the left and right of C are trades you shouldn't consider as B failed and gave a higher low. If you had taken both you'd have made more than you lost.
D - is lh shooting star and works
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  • #495
  • Sep 4, 2009 1:26am Sep 4, 2009 1:26am
Quoting Vantage
You're using a 15 min chart? I'd stop that right away!!

Looking at what I think is same time on a 5 min chart. Rules lower high, 5 min close price MUST move on 1 pip for trade.

A - is lh where price goes on 1 pip and works.
B - is lh close price moves down below 131.73, a BE trade if you are lucky, perhaps a small loss. The 2 small green shooting stars were signs that fall did not want to follow through
C - to the left and right of C are trades you shouldn't consider as B failed and gave a higher low. If you had taken both you'd have made more...
Hi V,

But what's wrong with M15 chart?? My preferences is that i can see sideways better.
  • #496
  • Sep 4, 2009 3:18am Sep 4, 2009 3:18am
Quoting chiqunk
Hi V,

But what's wrong with M15 chart?? My preferences is that i can see sideways better.
Sorry I've spent hundreds and hundreds of hours on 5 min charts looking at hl/lh's to find something that is a high % winner when you follow the rules (1 hr set up, hl/lh, carries on 1 pip from signal candle).

Time spent with 15 min charts - 0. So I have no idea how this would work for you!!
  • #497
  • Oct 15, 2009 1:44am Oct 15, 2009 1:44am
Hi Vantage,
Good use of high/low from H1.

Looking at E/$ @6:30 GMT/230 EDT, if the current H1 candle closes below the previous candle's close, then you switch to M5 to look for a lower low and enter a sell trade?

Thanks.
[IMG]file:///C:/Users/RAB07%7E1.AHA/AppData/Local/Temp/moz-screenshot.png[/IMG]
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  • #498
  • Oct 15, 2009 1:53am Oct 15, 2009 1:53am
Quoting denverdude
Hi Vantage,
Good use of high/low from H1.

Looking at E/$ @6:30 GMT/230 EDT, if the current H1 candle closes below the previous candle's close, then you switch to M5 to look for a lower low and enter a sell trade?

Thanks.
[IMG]file:///C:/Users/RAB07%7E1.AHA/AppData/Local/Temp/moz-screenshot.png[/IMG]
Normally yes but this is such a strong move up that neg close candles have just served as places to look to buy.

Apart from the tops of moves going back to Nov/Dec 2007 and Jan 2008 I don't really see a reason for eur to suddenly fall. Of course it can though.

Until theres more proof that this sucker can move down at the moment I'd prefer to see any move lower as a chance to buy.

GBP on the other hand around 6120 is in a proven turnaround area over last few weeks.
  • #499
  • Oct 15, 2009 2:05am Oct 15, 2009 2:05am
Quoting Vantage
Normally yes but this is such a strong move up that neg close candles have just served as places to look to buy.
Thanks for the reply vantage
If there is a lower high on H1 and a lower close/reversal candle, then I guess you would look for sell
  • #500
  • Oct 15, 2009 2:24am Oct 15, 2009 2:24am
Quoting denverdude
Thanks for the reply vantage
If there is a lower high on H1 and a lower close/reversal candle, then I guess you would look for sell
Yes lh on 1 hr. 4 hr chart shows nice place to buy, red line supp/50% fib.
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